Ascend Opens 1st Outlet Store in Illinois

Rhea-AI Summary

Ascend Wellness Holdings opens its first outlet and ninth dispensary in Illinois, located at 16200 S Harlem Ave, Tinley Park. This new facility is designed for adult-use cannabis and features seven point-of-sale terminals. Ascend's outlet store offers everyday low pricing, including 'flower at a fraction' of the price. The Tinley Park dispensary is easily accessible in a large shopping area with ample parking. It showcases Ascend's full range of premium cannabis products including flower, edibles, vapes, and concentrates. Along with the opening, Ascend has revamped its rewards program, allowing customers to earn points for in-store and online purchases. This store marks Ascend's 27th dispensary across six states, promoting their commitment to improving lives through cannabis.

Positive

• Opening of the first outlet in Illinois, indicating expansion.
• Total of 27 dispensaries across six states enhances market presence.
• Everyday low pricing attracts cost-conscious consumers.
• Revamped Ascend Rewards Program could increase customer loyalty.

Negative

• None.

Ascend expands its presence in Illinois with its first outlet and ninth dispensary in the state

NEW YORK, April 17, 2023 /PRNewswire/ - Ascend Wellness Holdings, Inc. ("AWH" or the "Company") (CSE: AAWH.U) (OTCQX: AAWH), a multi-state, vertically integrated cannabis operator focused on bettering lives through cannabis, announced the grand opening of its Ascend Tinley Park adult-use cannabis outlet dispensary, located at 16200 S Harlem Ave, Tinley Park, IL 60477. The dispensary is Ascend's ninth in the state of Illinois and twenty-seventh across its six-state footprint. 

The new dispensary will be open from 9 am to 9 pm and will offer adult-use cannabis products with seven point-of-sale (POS) terminals, accepting both cash and cashless ATM terminals for debit cards. The store is Ascend's first outlet store in the state offering everyday low pricing and 'flower at a fraction' of the price. The outlet joins Ascend's four outlets across the portfolio in Grand Rapids, Michigan; Scranton, Pennsylvania; Wayne, Pennsylvania; and New Bedford, Massachusetts.

The Tinley Park dispensary is located in a large shopping area, making it easily accessible to both local residents and visitors to the area. The dispensary offers a large parking lot for convenient parking and accessibility.

"We are excited to be expanding our retail presence with the opening of our 27th dispensary and our fifth outlet store," said Kathleen Olivastro, Regional Vice President of Retail Operations at Ascend Wellness Holdings. "Our Tinley Park store offers a convenient location and a great shopping experience for our customers to access a wide range of products and high-quality cannabis at everyday low prices."

The Tinley Park dispensary will offer Ascend's full catalog of top-tier brands including a full menu of premium flower, edibles, vapes, and concentrate products. The grand opening event will start at 8:45 am and the Company will offer doorbusters for early arrivals.

Customers must be at least 21 years old to purchase cannabis products at the Tinley Park dispensary.  

Ascend Rewards Program

Ascend has revamped its rewards program and launched the Ascenders Club this month. Customers can now earn and redeem points both online and in-store. Earn 1 point for every $1 spent and build points to earn products or apparel! Customers can enroll today in-store or through the Ascenders Club wallet online. 

About Ascend Wellness Holdings, Inc (AWH):

AWH is a vertically integrated multistate cannabis operator with licenses and assets in Illinois, Michigan, Ohio, Massachusetts, New Jersey, and Pennsylvania. AWH owns and operates state-of-the-art cultivation facilities, growing award-winning strains and producing a curated selection of products for retail and wholesale customers. AWH produces and distributes its in-house Simply Herb, Ozone, and Ozone Reserve branded products. For more information, visit www.awholdings.com.

Forward-Looking Statements

This news release includes forward-looking information and statements, which may include, but are not limited to, information and statements regarding the plans, intentions, expectations, estimates, and beliefs of the Company. Words such as "expects", "continue", "will", "anticipates" and "intends" or similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on the Company's current projections and expectations about future events and financial trends, and on certain assumptions and analyses made by the Company in light of experience and perception of historical trends, current conditions and expected future developments and other factors management believes are appropriate.

Forward-looking information and statements involve and are subject to assumptions and known and unknown risks, uncertainties, and other factors which may cause actual events, results, performance, or achievements of the Company to be materially different from future events, results, performance, and achievements expressed or implied by forward-looking information and statements herein. Such factors include, among others: the risks and uncertainties identified in the Company's Annual Report on Form 10-K for the year ended December 31, 2021, and in the Company's other reports and filings with the applicable Canadian securities regulators and the U.S. Securities and Exchange Commission. Although the Company believes that any forward-looking information and statements herein are reasonable, in light of the use of assumptions and the significant risks and uncertainties inherent in such information and statements, there can be no assurance that any such forward-looking information and statements will prove to be accurate, and accordingly, readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance upon such forward-looking information and statements. Any forward-looking information and statements herein are made as of the date hereof, and except as required by applicable laws, the Company assumes no obligation and disclaims any intention to update or revise any forward-looking information and statements herein or to update the reasons that actual events or results could or do differ from those projected in any forward-looking information and statements herein, whether as a result of new information, future events or results, or otherwise, except as required by applicable laws.

The CSE has not reviewed, approved or disapproved the content of this news release.

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SOURCE Ascend Wellness Holdings, Inc.

FAQ

What is the significance of Ascend Wellness Holdings opening in Tinley Park, Illinois?

The opening of the Tinley Park dispensary marks Ascend's expansion into Illinois, increasing its presence in the state to nine dispensaries.

What are the features of the new Ascend dispensary in Tinley Park?

The new dispensary features seven point-of-sale terminals, ample parking, and offers a full range of cannabis products at everyday low prices.

When did Ascend Wellness Holdings announce the opening of its Tinley Park outlet?

The announcement was made on April 17, 2023.

What types of cannabis products will be available at Ascend's Tinley Park dispensary?

Customers can find premium flower, edibles, vapes, and concentrates.

What is the Ascend Rewards Program, and how does it work?

The Ascend Rewards Program allows customers to earn 1 point for every $1 spent, redeemable for products or apparel.